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Trump Seeks Tax Hike on Wealthy Earning $2.5 Million or More

The president’s proposal calls for creating a new 39.6% tax bracket for individuals earning at least $2.5 million, or couples making $5 million, according to people familiar with the discussion.
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The left will call Trump a fascist because of this.
 
dobieg said:
It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.

Perhaps if Demcorats weren't such flaming idiots they would get back to their roots of being for the working man and actually do something useful for the middle class on taxes. Instead they'll focus all their energy on letting hairy 40 year old men into the women's bathroom and telling little Johnny he's actually Sarah.
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And here I thought tariffs were going to replace income tax.

Huh.

I'm surprised the naysayers aren't mentioning this: "according to people familiar with the discussion."
 
dobieg said:
It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.

Perhaps if Demcorats weren't such flaming idiots they would get back to their roots of being for the working man and actually do something useful for the middle class on taxes. Instead they'll focus all their energy on letting hairy 40 year old men into the women's bathroom and telling little Johnny he's actually Sarah.
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This is a strange way of admitting that Dems have been right about tax policy for decades.
 
dobieg said:
It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.

Perhaps if Demcorats weren't such flaming idiots they would get back to their roots of being for the working man and actually do something useful for the middle class on taxes. Instead they'll focus all their energy on letting hairy 40 year old men into the women's bathroom and telling little Johnny he's actually Sarah.
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It's not really a flex. He still keeps a lower tax rate (37%) in place for people earning in the millions.
 
Cameron said:
This is a strange way of admitting that Dems have been right about tax policy for decades.
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That's basically a way to look at it. Trump and the GOP agree that progressive tax policies are more fiscally responsible and politically palatable than having Bill Gates pay the same rate as his house cleaner (not to mention, he can hire accountants to get write-offs his maids can't).
 
dobieg said:
It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.

Perhaps if Demcorats weren't such flaming idiots they would get back to their roots of being for the working man and actually do something useful for the middle class on taxes. Instead they'll focus all their energy on letting hairy 40 year old men into the women's bathroom and telling little Johnny he's actually Sarah.
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trump rode to victory on lowering prices and interest rates, and is focused on policies which will..increase them.
talk about being a flaming idiot
 
dobieg said:
It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.

Perhaps if Demcorats weren't such flaming idiots they would get back to their roots of being for the working man and actually do something useful for the middle class on taxes. Instead they'll focus all their energy on letting hairy 40 year old men into the women's bathroom and telling little Johnny he's actually Sarah.
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Here ya' go:

news.bloomberglaw.com

Trump Seeks Tax Hike on Wealthy Earning $2.5 Million or More (2)

President Donald Trump is pushing lawmakers to increase tax rates on some of the wealthiest Americans as a way to offset other cuts in his signature economic package.
news.bloomberglaw.com news.bloomberglaw.com
 
multivita-man said:
It's not really a flex. He still keeps a lower tax rate (37%) in place for people earning in the millions.
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What do you believe the threshold should be?

People who live in areas like NYC or SF in the $2.5 million club already have a combined tax burden of +50%. Add in the astronomical cost of housing and regular cost of living and what originally seemed like a lot is a whole lot smaller.

Not that I would shed any tears if the threshold was $1 million or so. Just curious what you think.
 
No link provided to a source of this. How is this still allowed up here lol?
 
dobieg said:
It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.

Perhaps if Demcorats weren't such flaming idiots they would get back to their roots of being for the working man and actually do something useful for the middle class on taxes. Instead they'll focus all their energy on letting hairy 40 year old men into the women's bathroom and telling little Johnny he's actually Sarah.
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What's "amusing"?

The Dems have been pressuring Trump, and he seems to capitulating to them.

Dems got what they wanted.

And it looks like something similar may happening with Trump's push for a Crypto bill:

Here:

(CNN) Senate Democrats block first-of-its-kind bill regulating cryptocurrency amid concerns over Trump’s crypto dealings

(CNN) Senate Democrats block first-of-its-kind bill regulating cryptocurrency amid concerns over Trump’s crypto dealings -- Senate Republicans were largely united in their support for the legislation, and even received a visit from David Sacks, the White House’s czar on AI and cryptocurrency...
debatepolitics.com debatepolitics.com
 
Chomsky said:
What's "amusing"?

The Dems have been pressuring Trump, and he seems to capitulating to them.

Dems got what they wanted.

And it looks like something similar may happening with Trump's push for a Crypto bill:

Here:

(CNN) Senate Democrats block first-of-its-kind bill regulating cryptocurrency amid concerns over Trump’s crypto dealings

(CNN) Senate Democrats block first-of-its-kind bill regulating cryptocurrency amid concerns over Trump’s crypto dealings -- Senate Republicans were largely united in their support for the legislation, and even received a visit from David Sacks, the White House’s czar on AI and cryptocurrency...
debatepolitics.com debatepolitics.com
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Come'on Chomsky, do you really believe that?


When in our lifetimes have Republicans ever capitulated on raising taxes on the rich?
 
Chomsky said:
Agreed.

$2.5M is a joke.

The current top bracket is $600K
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Yeah it's a gimmick to make the math work as a way to not look like they're totally giving the ultra-rich what they want, and maybe at least some GOP Senators and House members are growing concerned about the weakness of the dollar and strength of the overall economy.
 
dobieg said:
Come'on Chomsky, do you really believe that?


When in our lifetimes have Republicans ever capitulated on raising taxes on the rich?
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'Yes'.

Trump & the GOP have been getting hammered by the Dems incessantly. Done in conjunction with the upcoming Trump/GOP/DOGE cuts to services & benefits.

The Dem narrative is:

"Trump's cutting your benefits to give tax cuts to his Billionaire buddies" (my phrasing)

And, it's been getting traction.
 
multivita-man said:
Yeah it's a gimmick to make the math work as a way to not look like they're totally giving the ultra-rich what they want, and maybe at least some GOP Senators and House members are growing concerned about the weakness of the dollar and strength of the overall economy.
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Given how many extremely wealthy we now have in the country, I'm not sure of how much income it would bring in. It might be substantial. I dunno'.

But Trump needs to do this increase to diffuse the traction the Dem talking-point has been getting.

And while Trump may not fear Bernie & AOC personally, I'm sure he sees the crowds they're bringing in.
 
craig said:
He is going for Bernie voters! (Trump already has the pervert vote.)
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More likely just cutting "tax cuts for the rich" dipshits off at the knees. Wanna bet Bernie and ACO cohort are slapping their foreheads and crying unconsolably.
 
dobieg said:
Everywhere Threads This forum This thread
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It would be so amusing if Trump undercut Democrats and hiked taxes on the rich to pay for tax cuts for the middle class.
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This was shot down a week ago when the admin said it would harm small business
 
Chomsky said:
Given how many extremely wealthy we now have in the country, I'm not sure of how much income it would bring in. It might be substantial. I dunno'.

But Trump needs to do this increase to diffuse the traction the Dem talking-point has been getting.

And while Trump may not fear Bernie & AOC personally, I'm sure he sees the crowds they're bringing in.
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Not to mention, we're potentially looking at stagflation in the coming months. Maybe not severe, but bad enough to make the passage of a bill like this sensitive.
 
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